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Income Tax Case Laws - Section: 54B


Income Tax

Cases for Section: 54B

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Showing 1 to 15 of 70 Records

2015 (2) TMI 572 - ITAT PANAJI

Income Tax Officer Versus Mr. Tome Hilitor Silvester De Oliveira

Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases - whether CIT(A) erred in allowing the deduction U/S 54B without considering the basic condition of the said section “the assessee should have used the ......

2014 (12) TMI 301 - ITAT HYDERABAD

Income Tax Officer Versus Shri G. Raghavendra Rao, Hyderabad

Assessment of capital gain on sale of land at Maqta Mehaboobpet – Held that:- AO came to the conclusion that there is transfer of capital asset i.e. land admeasuring acre 1.235 guntas by assessee to MDPL by solely relying upon the agreement of sale-c ......

2014 (10) TMI 775 - ITAT DELHI

ACIT, Circle-II, Faridabad Versus Sh. Dinesh Verma, House of Taxman, 1A/121 NIT

Admission of additional evidence – Held that:- There was no infirmity in the order of CIT(A) in admitting the additional evidence - Revenue has not raised any ground challenging the additional ground admitted by CIT(A) - After an additional ground is ......

2014 (7) TMI 1003 - DELHI HIGH COURT

Commissioner of Income Tax-IV Versus Hotz Industries Ltd.

Revision u/s 263 - Disallowance u/s 14A – Held that:- Without pronouncing whether the figures given by the assessee were incorrect, the Commissioner recorded that this required verification from the records - This is impermissible and cannot be allow ......

2014 (6) TMI 494 - ITAT HYDERABAD

Sri Potla Nageswara Rao, Khammam Versus The DCIT, CC-4, Hyd.

Addition of LTCG – transfer / extinguishment of right - Joint property development agreement - Held that:- The land is a capital asset was transferred by the assessee to the developer during the AY 2003-04, for construction and it is enough if the as ......


Deepakbhai Ramjibhai Patel Versus Income Tax Officer

Validity of notice u/s 148 of the Act - Mere change of opinion - Claim of exemption u/s 54B of the Act - Held that:- In the return filed by the assessee, the main claim was for exemption u/s 54B of the Act on sale of land – the proceeds of the sale o ......

2014 (4) TMI 707 - ITAT HYDERABAD

Sagi Kodanda Rama Raju, Hyderabad Versus ACIT, Circle 6(1), Hyderabad

Validity of re-opening of assessment u/s 147 of the Act – Held that:- CIT(A) rightly held that the AO has tangible material before initiating proceedings u/s 147 – AO obtained information u/s 133(6) and thereafter, he has initiated proceedings for re ......

2014 (4) TMI 470 - ITAT COCHIN

Assistant Commissioner of Income-tax Versus TG. Chandrakumar

Grant of deduction u/s 54B - CIT(A) granted deduction u/s 54B by holding that transfer took place on 17-03-2007 – Held that:- CIT(A) found that under Income-tax Act, there was a transfer on 17-03-2007 when physical possession of property was handed o ......

2014 (3) TMI 466 - ITAT AHMEDABAD

Income Tax Officer Versus Shri Arjundbhai Dolat Desai, (HUF)

Deletion of disallowance u/s 54B of the Act – Sale of non-agricultural plots - Held that:- The Revenue contended that the CIT(A) has erred in accepting the additional evidences furnished during the appellate stage without remanding the same to the AO ......

2014 (2) TMI 788 - ITAT AHMEDABAD

Haresh Kumar Govindbhai Patel, Prop. Memaganbhai Motiram Sons Versus The Income Tax Officer

Addition on account of Long Term Capital Gain on sale of immovable property – Held that:- CIT(A) was of the view that the facts namely that against the deduction u/s 54B, Assessee had only shown new purchase of land - the new asset purchased was a re ......

2014 (2) TMI 733 - ITAT INDORE

Income Tax Officer 5(1) Indore Versus Jaspal Singh Chadha

Deletion made under the head LTCG – Income from sale of land - agriculture land – Exemption u/s 10(37) of the Act allowed – Held that:- The Tribunal was therefore justified in holding that distance of 2 kms from the municipal limits of city of Khanna ......



Entitlement for deduction u/s 54B and 54F of the Act – Investments made in the name of daughters – Capital gains - Held that:- The benefit of exemption u/s 54B and 54F could be given to an assessee only if the new property is purchased in his own nam ......


Kewal Krishan Jain Versus Commissioner of Income Tax, Jalandhar and another

Power of CIT u/s 264 - Revision in favor of assessee - Held that:- Following Parekh Brothers v. Commissioner of Income Tax, Kerala-II Ernakulam and others, [1983 (8) TMI 17 - KERALA High Court] - Mere fact that the assessee had not raised a plea befo ......

2013 (12) TMI 1050 - ITAT HYDERABAD

Syed Nawab Hussain Versus Assistant Commissioner of Income-tax

Overriding title on property – Held that:- There is no material to show that the brothers and sisters of the forefathers having any title over the property - The assessees have not placed any document to show that the payments to whom the assessees h ......

2013 (12) TMI 194 - ITAT HYDERABAD

The ACIT, Circle-6(1), Hyderabad Versus N. Raghu Varma

Deduction u/s 54B – The land was continuously used by the assessee for agricultural purposes - The agricultural income from the said property has been declared by the assessee in his return of income - Held that:- The land was entered in the revenue ......



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